August 2020 Trends in Growth Capital Financings

Written By Dave Lavinsky
November 2023 funding report

Our investment banking arm – Growthink Capital – just released its assessment of growth capital financings that occurred during August 2020.

August 2020 saw yet again another monthly increase (that’s four monthly increases in a row!) in venture and growth capital funding events.

We tracked $8 billion in new funding events during the month, up from $7.1 in July, $6.4 in June and $5 billion in May.

$1.8 billion of this funding came from video game developer Epic Games.

Other $100 million+ funding events in August included the following:

  • Indigo Agriculture ($535 million) a provider of plant microbiome agricultural services designed to increase crop yield.
  • ChargePoint ($367 million) an Electric Vehicle (EV) charging network.
  • Freenome ($270 million) a multiomics platform designed to detect cancer through a routine blood draw.
  • Farmer’s Business Network ($250 million) a farmer-to-farmer agronomic information network.
  • Warby Parker ($245 million) a direct-to-consumer prescription eyewear company. recommendations from customized surveys and try multiple styles free of charge
  • Robinhood ($200 million) an investment platform intended to help teach people to invest in the stock market.
  • Gong ($200 million) a revenue intelligence platform leveraging artificial intelligence to go beyond traditional CRM and transform revenue teams.
  • Atomwise ($123 million) an artificial intelligence-based biotechnology company intended to help invent new potential medicines for more than 50 disease targets.
  • MURAL ($118 million) a visual collaboration tool to enable teams to think and collaborate visually.
  • Dyne Therapeutics ($115 million) a developer of therapies designed for serious muscle diseases.
  • Lyra Health ($110 million) a digital health platform designed to transform mental health care.
  • Synthego ($100 million) a precision tool designed to automate genome engineering research.
  • Redis Labs ($100 million) an in-memory database platform for applications and services designed for transactional, analytics and hybrid deployments.
  • Dataiku ($100 million) a centralized data platform intended to help businesses in their data journey from analytics at scale to enterprise AI.
  • PayActiv ($100 million) a financial wellness platform intended to ease financial stress among employees.

The hottest sectors for funding during the month were BioTech, HealthTech, CleanTech, Artificial Intelligence, Cybersecurity, EdTech, FinTech, Productivity Software.

Key funding events in each these sectors for the month are below:

  1. BioTech deals included Freenome ($270 million), Dyne Therapeutics ($115 million), Synthego ($100 million), Kinnate Biopharma ($98 million), Taysha Gene Therapies ($95 million), Aerovate Therapeutics ($73 million), PMV Pharmaceuticals ($70 million), NeuroPace ($67 million), Triumvira Immunologics ($55 million), Prelude Therapeutics ($50 million), Tango Therapeutics ($50 million), Erasca ($36 million), GentiBio ($20 million), ImmPACT Bio ($18 million) and Atomwise ($123 million).
  2. HealthTech deals included Aetion ($82 million), PatientPop ($50 million), Lumeon ($30 million), Bridge Connector ($26 million), Eden Health ($25 million), Klara ($15 million) and RETINA-AI Health ($5.2 million).
  3. CleanTech deals included Checkerspot ($36 million), TemperPack ($31 million), Motiv Power Systems ($15 million), Natural Fiber Welding ($13 million), SparkMeter ($12 million) and Palmetto ($29 million).
  4. Artificial Intelligence deals included Gong ($200 million), Dataiku ($100 million), Syntiant ($35 million), SupportLogic ($12 million) and Verta ($10 million).
  5. Cybersecurity deals included Keeper ($60 million), Socure ($35 million), SpyCloud ($30 million), AffirmLogic ($25 million) and Cyware ($10 million).
  6. EdTech deals included Bloom Tech ($74 million), Skillshare ($66 million), Springboard ($31 million) and Juni Learning ($11 million).
  7. FinTech deals included Robinhood ($200 million), PayActiv ($100 million), Volante Technologies ($35 million) and Moov Financial ($5.5 million).
  8. Productivity Software deals included Parsable ($60 million), Split ($33 million), Shopmonkey ($25 million) and Chili Piper ($18 million).

If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.

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